FINDELL CAPITAL MANAGEMENT LLC — 13F Holdings & Portfolio
CIK 1814465 · latest 13F-HR filed 2026-08-14
FINDELL CAPITAL MANAGEMENT LLC manages $710.3M in 13F-reported U.S. long-equity assets across 15 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are LQDA (39.31%), ESTA (13.24%), LQDA (9.82%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 2 new positions and exited 7; 10 existing positions rose in reported value and 0 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-08-14
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 96%Cumulative share of the portfolio held in the largest N positions.
As of the firm’s regulatory filing dated Jul 22, 2026.
SUITE 2240
NEW YORK, NY 10005
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| CANEPA FCM HOLDINGS, LLC Control | SHAREHOLDER since Jul 2023 | 25–50% | Domestic Entity |
| Finn, Brian, Arthur Control | MANAGER since Apr 2019 | 50–75% | Individual |
| SHAHMANESH, JANE | CHIEF COMPLIANCE OFFICER since Feb 2024 | Less than 5% | Individual |
| VOERG, RYAN, BRADLEY | CHIEF FINANCIAL OFFICER AND CHIEF OPERATING OFFICER since Apr 2024 | Less than 5% | Individual |
| CANEPA GLOBAL MANAGERS, S.C.S. Control Indirect owner via HEISENBERG GLOBAL PARTNERS, LLC | SHAREHOLDER since Dec 2017 | 75% or more | Foreign Entity |
| CGM PARTNERS, S.A R.L. Control Indirect owner via CANEPA GLOBAL MANAGERS, S.C.S. | GENERAL PARTNER since Dec 2017 | General partner, trustee or manager | Foreign Entity |
| CTP HOLDINGS LTD. Control Indirect owner via CGM CAPITAL SPF S.A R.L. | SHAREHOLDER since Jul 2023 | 75% or more | Foreign Entity |
| HEISENBERG GLOBAL PARTNERS, LLC Control Indirect owner via CANEPA FCM HOLDINGS, LLC | SHAREHOLDER since Jun 2023 | 75% or more | Domestic Entity |
| CGM CAPITAL SPF S.A R.L. Indirect owner via CANEPA GLOBAL MANAGERS, S.C.S. | LIMITED PARTNER since Dec 2022 | 50–75% | Foreign Entity |
Ownership & leadership changes · 5 filings with changes since Feb 24, 2020
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
- ChangedVOERG, RYAN, BRADLEY · no longer a control person
- No longer listedCGM CAPITAL SPF S.� R.L. · LIMITED PARTNER · 50–75% · indirect via CANEPA GLOBAL MANAGERS, S.C.S. · listed since Dec 2022
- No longer listedCGM PARTNERS, S.� R.L. · GENERAL PARTNER · General partner, trustee or manager · indirect via CANEPA GLOBAL MANAGERS, S.C.S. · control person · listed since Dec 2017
- No longer listedCTP HOLDINGS LTD. · SHAREHOLDER · 75% or more · indirect via CGM CAPITAL SPF S.� R.L. · control person · listed since Jul 2023
- AddedCGM CAPITAL SPF S.A R.L. · LIMITED PARTNER · 50–75% · indirect via CANEPA GLOBAL MANAGERS, S.C.S.
- AddedCGM PARTNERS, S.A R.L. · GENERAL PARTNER · General partner, trustee or manager · indirect via CANEPA GLOBAL MANAGERS, S.C.S. · control person
- AddedCTP HOLDINGS LTD. · SHAREHOLDER · 75% or more · indirect via CGM CAPITAL SPF S.A R.L. · control person
- ChangedSHAHMANESH, JANE · no longer a control person
- No longer listedCGM CAPITAL SPF S.� R.L. · LIMITED PARTNER · 50–75% · indirect via CANEPA FCM HOLDINGS, LLC · listed since Dec 2022
- AddedCGM CAPITAL SPF S.� R.L. · LIMITED PARTNER · 50–75% · indirect via CANEPA GLOBAL MANAGERS, S.C.S.
- ChangedFinn, Brian, Arthur · ownership 75% or more → 50–75%
- No longer listedBLTM CGM GP, LLC · SHAREHOLDER · 25–50% · indirect via CGM PARTNERS, S.� R.L. · control person · listed since Dec 2023
- No longer listedESBER, ELIAS, (NMN) · SHAREHOLDER · 25–50% · indirect via CGM PARTNERS, S.� R.L. · control person · listed since Dec 2017
- No longer listedESTEGHAMAT, KIAN, (NMN) · SHAREHOLDER · 75% or more · indirect via BLTM CGM GP, LLC · control person · listed since Jul 2023
- No longer listedRAICES INTERNATIONAL SPF S.� R.L. · SHAREHOLDER · 25–50% · indirect via CGM PARTNERS, S.� R.L. · control person · listed since Dec 2017
- No longer listedRODRIGUEZ, FRANCISCO, FELIX · SHAREHOLDER · 75% or more · indirect via RAICES INTERNATIONAL SPF S.� R.L. · control person · listed since Aug 2013
- AddedVOERG, RYAN, BRADLEY · CHIEF FINANCIAL OFFICER AND CHIEF OPERATING OFFICER · Less than 5% · control person
- AddedBLTM CGM GP, LLC · SHAREHOLDER · 25–50% · indirect via CGM PARTNERS, S.� R.L. · control person
- AddedCANEPA FCM HOLDINGS, LLC · SHAREHOLDER · 25–50% · control person
- AddedCANEPA GLOBAL MANAGERS, S.C.S. · SHAREHOLDER · 75% or more · indirect via HEISENBERG GLOBAL PARTNERS, LLC · control person
- AddedCGM CAPITAL SPF S.� R.L. · LIMITED PARTNER · 50–75% · indirect via CANEPA FCM HOLDINGS, LLC
- AddedCGM PARTNERS, S.� R.L. · GENERAL PARTNER · General partner, trustee or manager · indirect via CANEPA GLOBAL MANAGERS, S.C.S. · control person
- AddedCTP HOLDINGS LTD. · SHAREHOLDER · 75% or more · indirect via CGM CAPITAL SPF S.� R.L. · control person
- AddedESBER, ELIAS, (NMN) · SHAREHOLDER · 25–50% · indirect via CGM PARTNERS, S.� R.L. · control person
- AddedESTEGHAMAT, KIAN, (NMN) · SHAREHOLDER · 75% or more · indirect via BLTM CGM GP, LLC · control person
- AddedHEISENBERG GLOBAL PARTNERS, LLC · SHAREHOLDER · 75% or more · indirect via CANEPA FCM HOLDINGS, LLC · control person
- AddedRAICES INTERNATIONAL SPF S.� R.L. · SHAREHOLDER · 25–50% · indirect via CGM PARTNERS, S.� R.L. · control person
- AddedRODRIGUEZ, FRANCISCO, FELIX · SHAREHOLDER · 75% or more · indirect via RAICES INTERNATIONAL SPF S.� R.L. · control person
- AddedSHAHMANESH, JANE · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ListedFinn, Brian, Arthur · MANAGER · 75% or more · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- LIQUIDIA CORPORATION$147.1M +111.3%
- ESTABLISHMENT LABS HLDGS INC$37.4M +66.0%
- DAVE INC$24.4M +82.5%
- CELSIUS HLDGS INC$14.9M +209.5%
- ABIVAX SA$13.0M +110.9%
Exited Positions
- CENOVUS ENERGY INC$9.9M
- ACADIA HEALTHCARE COMPANY IN$8.9M
- MINERALYS THERAPEUTICS INC$5.5M
- VERMILION ENERGY INC$5.1M
- APPLIED DIGITAL CORP$4.0M
FINDELL CAPITAL MANAGEMENT LLC Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | LIQUIDIA CORPORATION | LQDA | 53635D202 | $279.2M | 39.31% | 3,502,112 | SH |
| 2 | ESTABLISHMENT LABS HLDGS INC | ESTA | G31249108 | $94.0M | 13.24% | 1,096,000 | SH |
| 3 | LIQUIDIA CORPORATION Put | LQDA | 53635D202 | $69.8M | 9.82% | 875,000 | SH |
| 4 | DAVE INC | DAVE | 23834J201 | $54.0M | 7.61% | 145,000 | SH |
| 5 | LIQUIDIA CORPORATION Put | LQDA | 53635D202 | $29.9M | 4.21% | 375,100 | SH |
| 6 | SUPER GROUP SGHC LIMITED | SGHC | G8588X103 | $28.5M | 4.01% | 2,100,000 | SH |
| 7 | ROOT INC | ROOT | 77664L207 | $25.7M | 3.62% | 460,000 | SH |
| 8 | ABIVAX SA | ABVX | 00370M103 | $24.7M | 3.47% | 185,000 | SH |
| 9 | GEO GROUP INC | GEO | 36162J106 | $23.6M | 3.33% | 800,000 | SH |
| 10 | CELSIUS HLDGS INC | CELH | 15118V207 | $22.0M | 3.09% | 750,000 | SH |
| 11 | OPORTUN FINL CORP | OPRT | 68376D104 | $16.0M | 2.25% | 2,798,300 | SH |
| 12 | TURNING PT BRANDS INC | TPB | 90041L105 | $14.4M | 2.03% | 170,000 | SH |
| 13 | FIGMA INC | FIG | 316841105 | $13.5M | 1.90% | 745,000 | SH |
| 14 | ROCKET COS INC | RKT | 77311W101 | $11.0M | 1.55% | 700,000 | SH |
| 15 | LIQUIDIA CORPORATION Put | LQDA | 53635D202 | $4.0M | 0.56% | 50,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $710.3M | 15 | 0000921895-26-002185 |
| 2026-03-31 | 2026-05-15 | $341.4M | 18 | 0000921895-26-001410 |
| 2025-12-31 | 2026-02-17 | $347.8M | 17 | 0000921895-26-000470 |
| 2025-09-30 | 2025-11-14 | $253.4M | 15 | 0000921895-25-003108 |
SUITE 2240
NEW YORK, NY 10005